Explore the forecast workbook
Learn about the key elements of a forecast workbook.
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Last updated
Learn about the key elements of a forecast workbook.
Last updated
User permission: Budgets & Forecasts
Watch this video to learn more about the forecast
A forecast is always based on a budget. The budget workbook is converted into a forecast workbook. To quickly switch between a budget and its forecasts (and vice versa), click the Budget menu in the top left corner, then click Switch to and select the workbook.
The Main tab of the forecast workbook has all the same elements as a budget workbook, along with some extras. You can quickly differentiate a forecast from a budget workbook by the Forecast button in the top left corner and the green Forecast flag pole in the grid. The most notable additions are the three total columns, which also act as buttons you can use to switch between different views of data. These and the other key elements of a forecast are identified by the numbers in the image below.
Total Budget column: Click this column to display your budget values for the entire period in the grid. The cells are not editable in this view, as the information is for reference purposes only. In this view there is no flagpole but a dotted vertical line displays at the end of the last fully completed month (period).
Actual + Budget column: Click this column to view the actual and budget values in the grid according to the period that was selected in the forecast setup, for example 1+11, 3+9 and so on. The actual values display to the left of the flagpole and the budget values display to the right. The cells are not editable in this view, as the information is for reference purposes only. This view is useful when you start reforecasting, as you can use the flagpole to see what your original budget was.
Actual + Forecast column: This column is selected by default and it displays the actual and forecast values in the grid, according to the period that was selected in the forecast setup. The default position of the flagpole identifies the current period. The actual values display to the left of the flagpole and the forecast values displays to the right of the flagpole. You can drag the flagpole back to the left to see what your forecast was (budget values). The default forecast values are the same as those in the Actual + Budget column but the cells are editable, so this is where you do your reforecasting.
Flag pole: This tool allows you to switch between the different data. The default position of the flagpole identifies the latest current actual data, as defined in the forecast setup. You can drag the flag pole back to view the different data (from actual to forecast/budget). You cannot drag the flagpole forward past a certain period because you do not have any actuals for those periods (future periods).
Period columns (grid) - This is where the actuals, budget and/or forecast values display. Any formulas that were in the underlying budget workbook are retained in the forecast.
In addition to the above elements, the forecast workbook also has some additional spread functionality.
A Balance Sheet forecast has some different elements.
By default, sparklines display in budget and forecast worksheets. However, they behave a bit differently in forecasts. In a forecast, one sparkline column displays before the three total columns. This sparkline column is dynamic and each sparkline updates in real-time as you work with the forecast, such as:
When you select a total column, the corresponding sparkline displays in the sparkline column. When you select a different total column, the sparkline updates accordingly. The color of the sparkline denotes which total column it represents.
When you move the flagpole, the sparkline updates accordingly to reflect the values you see in the forecast grid at that point in time.
If you change the data in the grid, the sparkline updates instantly, so you can immediately see the impact of your changes.
